Bank of Nova Scotia (The) Announces Quarterly Dividend of C$1.14 (NYSE:BNS)

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) announced a quarterly dividend on Monday, August 24th. Shareholders of record on Tuesday, October 6th will be given a dividend of 1.14 per share by the bank on Wednesday, October 28th. This represents a c) annualized dividend and a yield of 4.9%. The ex-dividend date is Tuesday, October 6th.

Bank of Nova Scotia has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 14 years. Bank of Nova Scotia has a dividend payout ratio of 58.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bank of Nova Scotia to earn $6.74 per share next year, which means the company should continue to be able to cover its $3.21 annual dividend with an expected future payout ratio of 47.6%.

Bank of Nova Scotia Stock Up 7.3%

Shares of BNS traded up $6.30 during mid-day trading on Tuesday, hitting $93.16. 4,250,048 shares of the company’s stock were exchanged, compared to its average volume of 2,401,410. The stock has a market cap of $113.55 billion, a price-to-earnings ratio of 17.78, a P/E/G ratio of 1.08 and a beta of 1.11. The firm has a fifty day moving average of $87.62 and a two-hundred day moving average of $79.69. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. Bank of Nova Scotia has a twelve month low of $58.77 and a twelve month high of $93.44.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.05. The business had revenue of $7.24 billion during the quarter, compared to analyst estimates of $7.13 billion. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. Bank of Nova Scotia’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.52 EPS. On average, sell-side analysts forecast that Bank of Nova Scotia will post 6.03 earnings per share for the current year.

Bank of Nova Scotia News Summary

Here are the key news stories impacting Bank of Nova Scotia this week:

• Positive Sentiment: Quarterly earnings beat expectations: Scotiabank reported record third-quarter results, with adjusted earnings per share of $2.28 versus analyst expectations of approximately $2.10. Reported profit rose to $2.95 billion from $2.53 billion a year earlier, while revenue increased 11.1% year over year. Scotiabank posts record quarter as capital markets surge lifts profit past estimates
• Positive Sentiment: Capital markets and wealth management drove results: Elevated market volatility supported stronger-than-expected performance in global banking and markets, while global wealth management posted a record result. Reports also cited growth across all major business lines, including higher interest income. Scotiabank Earnings Lifted by Record Result in Wealth Management
• Positive Sentiment: TD Securities upgraded the stock: TD Securities raised its rating on Bank of Nova Scotia from “hold” to “buy,” adding further support to the shares following the earnings announcement. Finviz Bank of Nova Scotia coverage
• Neutral Sentiment: Credit-card expansion: Scotiabank launched a no-fee Visa card for Canadian business owners offering 1% cash back. The product could support customer acquisition and payments growth, although its near-term earnings impact is likely limited. Scotiabank Launches New No Fee Visa Credit Card

Bank of Nova Scotia Company Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.